US inflation edges up as Fed debates interest rate cuts - BBC News

The rate of price increases picked up in February, as petrol and housing costs pushed higher.

23 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Bloomberg via Getty ImagesThe inflation rate in the US picked up in February, as prices for petrol and housing pushed higher.

The annual rate, which measures the pace of price increases, was 3.2% in February, up from 3.1% in January, the Labor Department said.

Airfare, car insurance and clothing were among the items driving the increase over the month.

Grocery prices, which have jumped in recent years, fuelling public discontent, were unchanged.

The monthly report comes during a critical presidential election year and as the US central bank, the Federal Reserve, is debating the next step in its fight to rein in prices.

https://www.bbc.co.uk/news/business-68537965

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